What is it like buying a house in Kensington?

Kensington might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of London.
Before looking for a house for sale in the city of Kensington we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.

In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Kensington.

What are the people like in Kensington?

Are the deprivation levels of the UK any different to Kensington?

The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.

If the proportion of deprivation of Kensington is 12% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.

What is a social grade score and how does this relate to Kensington?

The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.

The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits.

The number of people in Kensington in grades A or B which are the highest skilled roles in the country is 55%. Realistically, you can expect workers in this category to earn a higher salary too.

For comparison, £67,250 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 55%.

The city of Kensington, situated in London, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Kensington and its demographics will be compared to its wider location (Greater London). This includes population size, growth and population education now and into the future.

These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Kensington. So, taking a good look at the data is essential to understand the area you are considering to buy in.

In Kensington, how has the population changed?

In total, the number of people in Kensington is 40,001. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.

Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.

You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Kensington, depending on where exactly you are.

How has Kensington changed in the past five years?

Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Kensington has changed by 1%. Read more here

It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 1% is a recent change or not.
Click here to know more on the UK population trends.

In the last decade, what is the difference in population in Kensington?

2% has been the population growth change in the past 10 years.

Usually, this is more of a conservative figure compared to the five year change of a city.

Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.

The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Kensington have seen a more desirable way of working, moving to make themselves more comfortable in their careers.

For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.

How much do people in Kensington earn?

You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £67,250.

This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Kensington this figure is 55%.

In the city of Kensington, is there a lot of green space?

Whether you view green space in Kensington as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.

In Kensington, the number of acres of green space for every 1000 people currently is 22.5 which can be measured against the UK average of 1.7.

Is the crime rate bad in the city of Kensington?

The crime rate of Kensington must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.

For example, the area has a crime rate of 149, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.

Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.

Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (149) is both useful and is recommended to be compared to the average.

How educated are the people in Kensington?

In Kensington, the proportion of people who have a degree is 62%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Kensington is £67,250.

This figure for average household income usually goes up alongside the percentage of people who have degrees.

However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.

Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.

What’s the rental yield in general for the city of Kensington?

In Kensington, how has the number of houses changed?

The growth of an area like Kensington can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.

Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.

	1 year	3 years	5 years
Kensington growth rate	-3%	2%	-3%

Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.

Make sure you do your own research specific to the city of Kensington if you want to find out the exact reasons for the housing change.

Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Kensington. If this is the case, rental yield is a crucial statistic to consider.

If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Kensington.

It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (London), a regional level (Greater London) and finally on the level of the city talked about in this article, Kensington.

	Average Yield	Average Asking rent	Turnover (rental)	Turnover (sale)
Kensington	2.8%	£4,804	78%	4.5%
London	3.96%	£2,001	129.93%	12.05%
Greater London	3.88%	£1,899	129.14%	13.30%

You may also find it useful to compare the data above to the number of properties sold per month Kensington experiences. This figure for house sales per month is 30. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.

What is the final sale price of a house in Kensington?

In Kensington, the average sale price of a house for sale is in fact £1,863,023. This is dependent on the 10 year population growth of Kensington being 2%. Growing populations are more likely to inflate the prices of houses for sale in the city of Kensington.

Housing category	Total final sale price
Aerage sold price (detached)	no relevant data for this city
Aerage sold price (semi-detached)	£6,862,703
Aerage sold price (terraced)	£3,583,020
Aerage sold price (flat)	£1,471,385

The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Kensington.

Housing category	Sale price per square foot
Aerage sold price/sqft	£15,770
Aerage sold price/sqft (new build)	£13,645
Aerage sold price/sqft (old stock)	£15,755

Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.

On average, the cost of a house for sale per square foot works out to be £15,955. This means if you are just looking out the houses sold in Kensington in general and didn’t take into consideration the type of build. For example, a new build.

On average, what is the figure for the asking price of a house for sale in Kensington?

Table showing the asking prices for houses for sale in Kensington

Average asking price (1 bed)	£792,101
Average asking price (2 bed)	£1,517,230
Average asking price (3 bed)	£2,816,186
Average asking price (4 bed)	£4,752,816
Average asking price (5 bed)	£6,353,077

Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Kensington and if you may need to look at a different area in order to buy the type of house you can afford.

Also, noting the £16,150 should also give you an overview of what the asking price for houses for sale are in general.

When speaking about the city of Kensington, £2,089,834 is the asking price for a house for sale.

We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Kensington.

The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.

Who can help you buy a house for sale in Kensington?

Invest in a house for sale that meets your demands

Find here below a list of criteria that we suggest you consider before looking for houses for sale in Kensington

• affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)

• Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.

• Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.

• Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.

• EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.

• Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase

• Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?

• Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.

• Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.

Thinking about other cities with houses for sale?

You can assess the various houses for sale offered in the area by consulting this list of cities in Greater London, the same UK region as Kensington:

• Weybridge in Greater London
• Bedford-Park in Greater London
• Brentford in Greater London
• Cobham in Greater London
• East-Sheen in Greater London

You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK

Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.

Find here a list of those that can help when buying a house for sale:

• Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
• Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
• Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
• Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
• Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
• EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial